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Dealership Profits Decline
While new and used retail sales stagnated, dealerships have been particularly supported by fixed operations and finance-and-insurance profits, according to a new report.
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SEARCHMENUSEARCHWhile new and used retail sales stagnated, dealerships have been particularly supported by fixed operations and finance-and-insurance profits, according to a new report.
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The 2022 Working Relations Index shows Toyota in first place, with Honda rapidly closing in.
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General Motors hopes its Ultium platform, which consists of batteries, motors, software and other components, will help it grow EV market share and overtake Tesla as the No. 1 EV maker.
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The Illinois Secretary of State Police temporarily blocked Carvana’s dealer license for failing to properly transfer vehicle titles.
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New-vehicle affordability declined slightly in April despite revised data indicating stronger income gains, according to the latest Cox Automotive/Moody’s Analytics Vehicle Affordability Index.
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The challenge arises over the EPA decision to reinstate the waiver and withdraw its interpretation of the Clean Air Act that would prohibit other states from adopting California’s more stringent vehicle greenhouse gas emission standards.
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The National Automobile Dealers Association and 12 other trade groups to urge Congress to advance a bipartisan bill to combat this rising threat.
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The seasonally adjusted Retention Index went down to 185.4 points in April 2022 as high gas prices strengthen some segments and weaken others.
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Volkswagen forecasts its sales will rise 8%-13%, an operating profit margin of 7.0%-8.5% and an increase in deliveries of 5-10% in 2022.
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The Used Retail Days-to-Turn Estimate has continued to drop over the last few weeks and remains below 36 days.
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The loss leader in this equation was Toyota Motor Corp., which saw April sales volume fall 23%.
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